Sbi bank: State Bank of India (SBI) has given a double blow to its customers. SBI has reduced the interest rate on its regular FD. Also, the bank has reduced the interest rate of 0.20 percent on its special FD Amrit Vrishti. SBI had stopped its already special FD Amrit Kalash in early April. Now the special rate of special 444 days has also reduced the interest rate with him. This new rate will be considered applicable from 15 April 2025.
RBI has reduced the repo rate twice
Most banks are reducing interest rates on their FD after reducing the repo rate for the second time in the Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI). So far, many banks have reduced interest rates on FD. HDFC Bank, Yes Bank, Bank of Baroda and Punjab and Sindh Bank have already cut FD rates, indicating the onset of a large trend. Now the country’s largest public sector bank SBI has also joined this count.
SBI’s Amrit Vrishti FD
Amrit Vrishti FD Scheme is a special FD scheme of 444 days. So far, 7.25% was being given to general customers, 7.75% to senior citizens and 7.85% annual interest to super senior citizens above 80 years of age. Now from 15 April 2025, this FD will be given 7.05% to general customers, senior citizens 7.55% and super senior citizens above 80 years of age will be given 7.65% annual interest. SBI has reduced 0.20 per cent interest on this FD.
What is SBI Amrit Vrishti Scheme?
It is a term deposit scheme, whose period is 444 days. That is, the money will be invested for 444 days. Domestic and NRIs can take advantage of this scheme.
Scheme conditions and rules
This scheme will be applicable to fixed deposits whose investment money is less than Rs 3 crore. This can also be applied to the renewal of new deposits and existing deposits. Recharging deposits, tax saving deposits, annuity deposits and multi-option deposits will not be applicable. The payment of interest will be made on monthly, quarter or half -yearly basis.
How to invest?
Customers can invest through SBI branches, Yono SBI and Yono Lite Mobile Apps or Internet Banking. This scheme will be applicable automatically by choosing 444-days period.
The country’s largest public sector bank SBI shocked customers! Decreased interest on FD